Uranium prices present buying opportunity

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Thu, Dec 10, 2009
Uranium Market News
Post by Melissa Pistilli, Uranium Reporter

Globe and Mail reports the present buying opportunity of uranium with the increase in demand of nuclear reactors in the future.

Uranium on the spot market could fall to $35 (U.S.) a lb over the next quarter, to its lowest since late 2005 from around $45 a lb currently and $136 a lb in June 2007.

Over the next year it is likely to be capped at $55 a lb, but beyond 2011 some analysts expect it to rebound to $80 a lb.

“Uranium will be oversupplied in the short term. Utilities have more than they need for this year,” said John Wong, portfolio manager at New City Investment Managers.

For full details of this story, click this link.

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